The Offer

Receive a sign up bonus of $500 when you complete the following requirements with Vibrant Credit Union:

You must transfer your checking and savings account with direct deposit and open a Vibrant Visa Credit Card

Within 90 days of opening the account direct deposit of at least $250 a month must be set up and deposited, and you must have a minimum of 5 transactions on Vibrant Visa Credit Card within the first 90 days

Members must also be signed up for Estatements

The Fine Print

Must be a new member, which means you or someone in your household can not have had a Vibrant or DHCU account within the last 2 years

Only one person per household can take advantage of this offer. If the above requirements are met, $500 will be deposited into your checking account after 90 days

Vibrant employees are not eligible for this promotion. This promotion is available beginning on Thursday, October 1st, 2015, and ending on Monday, February 29th, 2016

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Cash earned from referrals will be deposited into your account within 90 days

Referral Bonus

If you’re already a Vibrant account holder, then you can receive $50 for each referred new member who meets the bonus requirements listed above. New member must mention the name referred by at the time of opening a new account. They will also be informed that you receive a $50 incentive. There is no cap on the number of people you can refer.

Feel free to share your referral information in the comments below.

Avoiding Fees

There is an early account termination fee of $5 that’s charged if the account is closed within 90 days. Their CashBack checking account doesn’t have any monthly fees and their Rewards Checking account $10/mo if avg daily balance is below $2500.

Our Verdict

Massive bonus, but the almost certain hard pull will put some people off. Personally I just view this as a credit card sign up bonus of $500 cash, with a bit more hassle (since you need to do a direct deposit). For people that can change their direct deposit easily, this should be a very good bonus for them. I’ll probably try signing up later today, if you have any experiences then please share them in the comments below.

It’s banking that deposits into the community. We like it here. Vibrant helps people to bank better and live better lives. If you live or work within 50 miles of one of our branches, you can live more vibrantly!

Mike- did you and your wife both get the $500 for opening up a new account? I signed up and just got the $500 yesterday. I would like to have my wife sign up as well, but I believe the rules say one per household. Did you both get the promo?

Did not try CC, just gave them $5 to open account. The “transfer” thing is a little confusing. You don’t have to transfer anything, just open a new account and follow other rules (DD and CC). My employer allows me to split my DD (pretty easy process) so for the last 3 months my employer has DD’d $250 into that account. I will change this back in a couple of months.

I see that it says one must be within 50 miles, but don’t know if this is enforced or not, so I attempted to open an account. I gave all my information (name, address, etc) and was taken to a page that said: “Thank you. This is the start of something great. Thanks for all the info. We are hard at work cooking up your new account. While you wait, feast your eyes on our other member benefits.” I haven’t had any confirmation emails or anything yet, so we will see….

Haha — any news? None for me yet. And do you think this will get a hard pull even if we get denied? I figured I’d risk it for $500. Just started getting CC’s in January, but also don’t have the capability to do some of the more rigorous MS opportunities, so it seemed like a good risk.

I got a call from Vibrant this morning. Was nice that they called. She asked if I have any family members who live within five miles of the Quad Cities. Unfortunately I do not, but a good datapoint. Apparently even grandparents work.

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